CMA LAW: TheCapital Markets Authority Holds its Eighth Awareness Workshop

Kuwait 17th March 2015 – The Capital Markets Authority (CMA) has held on Tuesday 17/3/2015 its eighth awareness workshop in Khaled Al-Kharafi Hall at the Kuwait Stock Exchange at 12:30 PM. This workshop is part of the awareness workshop program for the first quarter of 2015. Its topic was about the "Controls for Practice of External Sharia Review & Audit Profession". The speakers discussed such Controls through the following aspects:
- A brief about the External Sharia Audit Office and its jurisdictions
- Structure of External Sharia Audit Office
- Conditions that must be met by the Sharia auditor
- Contents of the External Sharia Audit Office's report
-  Services which the Office may not provide to the licensed persons
Other issues were also tackled such as the general assembly's role in choosing the auditor and determining his/her remunerations, in addition to the mechanisms and cases of ending the work of the Office. At the end, time was given for questions.
The speakers included Mr. Mohammad Abdul Ghafar Al-Sharif – Chairman of the Advisory Council for Sharia Supervision, Mr. Ahmed Marafi – Director of Awareness Office, Mrs. Aisha Al-Obaid – Manager of Studies & Legislations Section and representative of the Legal Affairs Sector.

Clarification to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority shall regulate and supervise the securities activities, achieve transparency and fairness, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.

Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities.
 
For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org     

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